The initial quarter of the fiscal year 2024 presented a complete contrast to the final quarter of fiscal year 2023 in terms of equity markets returns. Following a period of negative returns from January 2023 to March 2023, the equity market underwent a notable improvement, experiencing three consecutive months of positive returns. This performance stands out as one of the strongest quarterly performances since December 2020.
Even if we compare it to the various equity indices globally, the performance of BSE Sensex from India has been notable. Despite relatively lower YTD returns of 5.80 per cent, the index showcased a commendable June quarter performance with returns of 9.49 per cent. This indicates a strong recovery in the latest quarter. Comparatively, other major indices like Nikkei 225 from Japan, Bovespa from Brazil and Nasdaq Composite from the USA demonstrated higher YTD returns of 29.06 per cent, 11.01 per cent and 32.74 per cent, respectively. It is worth noting that BSE Sensex's positive momentum and steady growth are significant in the context of global equity markets in recent times.
Although the table alongside may suggest that Indian equity indices have not outperformed other equity indices, a deeper look at the data reveals that the Indian equity market has actually performed the best. In fact, it is the only major economy whose equity indices are trading at all-time highs. The chart shows how far the major equity indices are from their all-time highs. Nasdaq and Nikkei, for example, have both generated returns of around 30 per cent year-to-date, but they are still 7 per cent and 16 per cent away from their all-time highs, respectively.
Why is the Indian Equity Market Moving Upwards?
Denne historien er fra July 17, 2023-utgaven av Dalal Street Investment Journal.
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Denne historien er fra July 17, 2023-utgaven av Dalal Street Investment Journal.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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